Apple is said to be increasing its retail footprint in India by introducing three additional Apple Stores in the country.
This move follows the prosperous debut of their inaugural official stores in Mumbai and New Delhi earlier in the year.
As per Bloomberg's Mark Gurman, Apple's upcoming stores will be situated in Mumbai and New Delhi.
The third official store is anticipated to launch in Mumbai's Borivali by 2025, followed by a fourth store in New Delhi's DLF Promenade Mall by 2026.
According to the report, the Apple Store at DLF Promenade Mall has the potential to become the second-largest Apple Store in India, following the one located in Mumbai's Bandra-Kurla Complex.
According to reports, Apple has been directing its attention toward expanding its manufacturing operations in India. The company has entered into a partnership with the Tata Group to locally produce the iPhone 15 series and subsequently export them to other countries.
The inaugural Apple stores in India, namely Apple BKC and Apple Saket, were inaugurated by Apple CEO Tim Cook. These two stores have collectively experienced monthly sales amounting to approximately Rs 44-50 crores.
Apple's initial two stores in India have achieved remarkable success, as each store has generated billings ranging from Rs 22-25 crore in a relatively short period.
It is worth noting that Apple is paying a monthly rent of Rs 40 lakh for its Delhi store and Rs 42 lakh for its Mumbai store.
According to two industry experts, the monthly rent paid by Apple for its stores in Delhi and Mumbai is twice as high as the revenue of any other electronics store in India during a non-Diwali period.
With this figure, Apple Stores emerge as the top-performing electronics retailer in India in terms of revenue.
On its opening day, the Apple Store located in Mumbai's Bandra-Kurla Complex achieved billings exceeding Rs 10 crore. This remarkable figure surpassed the monthly revenue of significant local electronic stores in the area.
The enthusiasm surrounding the Apple Store openings was evident, as over 6,000 people visited the BKC store on its opening day, with a similar level of footfall reported at the smaller Saket store in New Delhi.
